Looking at the chart of Bitcoin on the 4-hour time frame we can see that it is currently trying to regain the support level at $47,410, and then find its way back up to $51,000 and above.
The price of Bitcoin has been choppy recently, but steadily found its bottom along the $47,410 level. The scam wick seen on December 3rd marked the bottom of the market and wiped out the stop losses placed around the $43,850 - $44,854 region.
The price is ranging in between $44,854 - $51,689 and is accumulating itself before the next major breakout to the upside. From here, i'm expecting a regain of the $47,410 level and then a push towards regaining $54,028 to close out the valley created last month.
As always please do your own research, I am not a financial advisor.